INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Income Before Tax for Operations

The domestic and foreign components of income (loss) before income taxes for our operations consist of the following for the years ended December 31:

	2024		2023		2022
Domestic	$	(161,340)	$	16,181	$	(302)
Foreign	20,350		33,698		23,511
Total (loss) income before income taxes	$	(140,990)	$	49,879	$	23,209

Schedule of Components of the Provision for Income Taxes

The components of the provision (benefit) for income taxes consist of the following for the years ended December 31:

 

	2024		2023		2022
Current – Federal	$	484	$	3,522	$	2,288
Current – State	571		733		927
Current – Foreign	5,696		9,895		6,760
Current income tax expense	6,751		14,150		9,975
Deferred – Federal	3,230		87		(1,024)
Deferred – State	877		587		(175)
Deferred – Foreign	112		296		600
Deferred income tax expense (benefit)	4,219		970		(599)
Income tax provision	$	10,970	$	15,120	$	9,376

Schedule of Deferred Tax Assets and Liabilities

Our deferred tax assets and liabilities consist of the following at December 31:

 

	2024		2023
Deferred tax assets:
Net operating loss carryforward	$	5,589	$	6,168
Inventory differences	1,127		1,043
Equity compensation	1,231		1,421
Investment in joint venture	20,254		677
Restructuring	206		104
Purchased intangible assets and goodwill	243		389
Accrued employee compensation and benefits	3,881		4,362
Lease liabilities	3,204		2,514
Interest expense	2,249		737
Research and development costs	1,239		752
Other, net	1,603		388
Gross deferred tax assets	40,826		18,555
Less valuation allowances	(32,121)		(6,167)
Total deferred tax assets	8,705		12,388
Deferred tax liabilities:
Depreciation and amortization	(4,481)		(5,278)
Right-of-use assets	(2,813)		(2,276)
Other, net	(892)		(52)
Total deferred tax liabilities	(8,186)		(7,606)
Net deferred tax assets	$	519	$	4,782

Schedule of Reconciliation of Income Tax Provision

A reconciliation of our income tax provision computed by applying the Federal statutory income tax rate of 21% to income (loss) before income taxes is as follows for the years ended December 31:

	2024		2023		2022
Statutory U.S. federal income tax	$	(29,608)	$	10,475	$	4,874
Foreign rate differential	2,086		3,562		2,868
Permanent items	566		975		980
U.S. state income tax, net of federal benefit	(1,665)		1,275		569
(Income) loss attributable to noncontrolling interest	12,072		(1,793)		(333)
Equity compensation	413		1,080		202
Return to provision adjustments	195		(247)		134
Deemed repatriation of foreign earnings	463		90		64
Other	166		2		(14)
Change in valuation allowances	26,282		(299)		32
Income tax provision	$	10,970	$	15,120	$	9,376

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2024		2023
Unrecognized tax benefits, beginning balance	$	5,017	$	2,106
Additions based on tax positions related to the current year	558		2,841
Additions for tax positions of prior years	—		70
Reductions for tax positions of prior years	(335)		—
Settlements	—		—
Unrecognized tax benefits, ending balance	$	5,240	$	5,017